sage Posted July 17, 2023 Share Posted July 17, 2023 22 minutes ago, Steve How Hard? said: B word? Bognor? Bugger Bognor Steve How Hard? 1 Link to comment Share on other sites More sharing options...
Anag Ram Posted July 17, 2023 Share Posted July 17, 2023 13 minutes ago, sage said: Bugger Bognor I intend to Steve How Hard? 1 Link to comment Share on other sites More sharing options...
Gee SCREAMER !! Posted July 17, 2023 Share Posted July 17, 2023 2 hours ago, PistoldPete said: Where is Salou? Cue another toilet joke, if those are still allowed on this forum. Spain. very popular in the 80's . Till it was shown to have sea riddled with poo. I think it's got a bit more popular in recent years. Link to comment Share on other sites More sharing options...
Gritstone Ram Posted July 17, 2023 Share Posted July 17, 2023 Can’t work out this interest rate rises. They are doing it to people who are on tight budgets and leaving the people who have paid there’s off free to spend what they like. I’m not sure what the ratios are. ariotofmyown 1 Link to comment Share on other sites More sharing options...
Eddie Posted July 17, 2023 Share Posted July 17, 2023 1 minute ago, Gritstone Ram said: Can’t work out this interest rate rises. They are doing it to people who are on tight budgets and leaving the people who have paid there’s off free to spend what they like. I’m not sure what the ratios are. From a personal perspective, inflation with respect to food prices, together with the massive hikes in gas and electricity, would have had a very significant impact on my/our living standards if it hadn't been for the rise in interest rates which are now just beginning to filter through (grudgingly, as far as the banks are concerned, it seems) to savers. The money we have squirreled away in ISAs have kept our heads above water. There is not a lot of wiggle-room for a pensioner nowadays. No holidays for us this year except for a short spell in Scarborough watching Yorkshire v Derbyshire. Link to comment Share on other sites More sharing options...
sage Posted July 17, 2023 Share Posted July 17, 2023 11 minutes ago, Eddie said: From a personal perspective, inflation with respect to food prices, together with the massive hikes in gas and electricity, would have had a very significant impact on my/our living standards if it hadn't been for the rise in interest rates which are now just beginning to filter through (grudgingly, as far as the banks are concerned, it seems) to savers. The money we have squirreled away in ISAs have kept our heads above water. There is not a lot of wiggle-room for a pensioner nowadays. No holidays for us this year except for a short spell in Scarborough watching Yorkshire v Derbyshire. Don't tell me you have had to switch from 5 Belgian beers a day to 4? The horror...😀 Stive Pesley, Ramarena and Eddie 3 Link to comment Share on other sites More sharing options...
1of4 Posted July 17, 2023 Share Posted July 17, 2023 (edited) I always understood the reason why interest rates are increased, was to stop unneeded spending and encourage people to save their spare cash. The problem with this is, while the rise may stop people using credit cards and spending their money frivolously. Unfortunately people are now using all their money and in many cases money they haven't got, just to keep a roof over their head and feed their family. Meaning they have no spare cash to save. If people do have some spare cash what incentive have they got to save? While the banks are quick to pass on the interest rate rises to mortgage borrowers, they seem to be slower in increasing the rates being paid to people with savings accounts. I'm definitely no economics expert, hell I struggle to work out the differences between the various types of interest rates. But I think just raising interest rates isn't going to work on bringing down inflation like it as done previously. There probably needs to be an entire new way for how our economy is run and regulated. What that would look like, I have not idea, I'll leave that to the appropriate experts. It may require some radical economic agreements with numerous countries, hopefully starting with the control and taxation of the multinational companies that seem to ride roughshod over individual country's tax laws. Edited July 17, 2023 by 1of4 sheeponacid and Stive Pesley 2 Link to comment Share on other sites More sharing options...
Eddie Posted July 17, 2023 Share Posted July 17, 2023 1 hour ago, sage said: Don't tell me you have had to switch from 5 Belgian beers a day to 4? The horror...😀 I'm so poor, I even had a Leffe Bruin today. cstand, sage and Ramarena 1 2 Link to comment Share on other sites More sharing options...
sage Posted July 17, 2023 Share Posted July 17, 2023 3 minutes ago, Eddie said: I'm so poor, I even had a Leffe Bruin today. I'll start a crowd fund for a Rochefort for you Eddie and cstand 1 1 Link to comment Share on other sites More sharing options...
SSD Posted July 18, 2023 Share Posted July 18, 2023 I think the biggest issue with the interest rates is there are so many people who have taken out mortgages with such low interest, thinking they've got an amazing deal for a high value property. All of a sudden now the interests rates are back to where they have been for the majority of our history and inflation rises day to day prices, the repayments are unaffordable. A sorry state of affairs. Link to comment Share on other sites More sharing options...
TimRam Posted July 18, 2023 Share Posted July 18, 2023 14 hours ago, G STAR RAM said: Well the only people benefitting from this whole situation are the large corporations. Read into that what you will. Over the last 3 years we seemed to have situation after situation which has just led to massive transfers of wealth. Probably just me being cynical. War, pandemic, energy crisis, net zero policy, hs2, financial crisis....the elite always get their millions. Link to comment Share on other sites More sharing options...
sage Posted July 18, 2023 Share Posted July 18, 2023 32 minutes ago, SSD said: I think the biggest issue with the interest rates is there are so many people who have taken out mortgages with such low interest, thinking they've got an amazing deal for a high value property. All of a sudden now the interests rates are back to where they have been for the majority of our history and inflation rises day to day prices, the repayments are unaffordable. A sorry state of affairs. I would add that with so many people on fixed deals, to get the required effect on the economy any rises are more severe and shouldered by those not on deals. I'd agree with the original premise that this isn't an inflation that can easily be tempered by interest rates rises. However the BofE only really have this tool. Its the tools in Westminster who have a range of tools, but sadly they are mainly tools. Eddie and Stive Pesley 1 1 Link to comment Share on other sites More sharing options...
Comrade 86 Posted July 18, 2023 Share Posted July 18, 2023 17 hours ago, i-Ram said: To be honest GStar I don't have the first idea what to do, but as you suggest the policy of increasing interest rates is to suppress spending and demand. However, it has not been consumer demand that has been creating inflation, it has been war, disease, and other macro-economic factors like Brexit. Its all a bit of a s*** show. I look forward to learning from others how this might be addressed, particularly @Stive Pesleyand @uttoxram75 It's simple you silly, old duffer. Just vote Boris back in. Hey presto, sunlit uplands all the way for all you Tory-bothering Brexishiters. No need to thank me, you're welcome, Comrade 86 Stive Pesley and Archied 2 Link to comment Share on other sites More sharing options...
cstand Posted July 18, 2023 Share Posted July 18, 2023 (edited) Nothing going on that has not happened before. https://thinkplutus.com/uk-interest-rate-history/ Having interest rates at 300 year lows was always going to end in tears. Told my son 5 years ago when he bought his house start paying off the mortgage asap because interest rates will go higher. Edited July 18, 2023 by cstand Link to comment Share on other sites More sharing options...
i-Ram Posted July 18, 2023 Share Posted July 18, 2023 51 minutes ago, 86 Hair Islands said: It's simple you silly, old duffer. Just vote Boris back in. Hey presto, sunlit uplands all the way for all you Tory-bothering Brexishiters. No need to thank me, you're welcome, Comrade 86 Blimey, even for you that’s a lot of pretty inaccurate name calling. I thought about including you on the socialist list with Stive and Uttox, but know that they actually believe in the movement, and do keep it real. cstand 1 Link to comment Share on other sites More sharing options...
sage Posted July 18, 2023 Share Posted July 18, 2023 Interest rates going up really do highlight another massive issue, the horrific house prices. We simply haven't built enough houses because it suits housebuilders not to build enough and no one in govt has the balls to deal with them. EtoileSportiveDeDerby and ariotofmyown 2 Link to comment Share on other sites More sharing options...
Wolfie Posted July 18, 2023 Share Posted July 18, 2023 9 hours ago, 1of4 said: It may require some radical economic agreements with numerous countries, hopefully starting with the control and taxation of the multinational companies that seem to ride roughshod over individual country's tax laws. But they don't. The internationally agreed tax laws allow them to pretty much choose which country to pay the majority of their tax. Ireland's average GDP per capita figure is now insane (over $100,000 per annum). It's not because everyone is suddenly rich, it's because they have the lowest corporation tax rates in Europe and all the multinationals have decided to have their head offices there to take advantage. I'm not saying the laws don't need to change - companies should pay tax in the countries the income is generated (not profit, because that can be manipulated). To say that laws aren't being followed is wrong in the vast majority of cases. therealhantsram 1 Link to comment Share on other sites More sharing options...
i-Ram Posted July 18, 2023 Share Posted July 18, 2023 1 minute ago, sage said: Interest rates going up really do highlight another massive issue, the horrific house prices. We simply haven't built enough houses because it suits housebuilders not to build enough and no one in govt has the balls to deal with them. Bloody David Clowes and his price fixing chums. Link to comment Share on other sites More sharing options...
Comrade 86 Posted July 18, 2023 Share Posted July 18, 2023 21 minutes ago, i-Ram said: Blimey, even for you that’s a lot of pretty inaccurate name calling. I thought about including you on the socialist list with Stive and Uttox, but know that they actually believe in the movement, and do keep it real. i-Ram 1 Link to comment Share on other sites More sharing options...
cstand Posted July 18, 2023 Share Posted July 18, 2023 (edited) Back topic. Edited July 18, 2023 by cstand Link to comment Share on other sites More sharing options...
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